Economic Aspects of Space Weather on the Power Grid

1. Economic Aspects ofSpace Weather on thePower Grid Space Weather Workshop 2008 Ben Damsky

2. Method: Assume a model utility is hit 5,000 MW of generation 3,000 employees 3,000,000 population served 1,000,000 in a metropolitan area

3. Method: Consider costs from 2 viewpoints: The utility The whole society

4. Method: • Consider costs for 3 different • storm magnitudes: • 200A (Moderate) • 400A (Large) • 800A (Very Large)

5. What does it cost a utility to respond to a GIC alert?

6. Cost to utility of GIC Response Stop trans maintenance work: - 50 men @ $50 per hour - 8 hours of stoppage Total: $20K per day

7. Cost to utility of GIC Response Use non-economic dispatch: - 20% of 5,000 MW - added cost $10/MWHr Total: $100K per 10 hr

8. What does it cost a utility when a solar storm hits?

9. Moderate Storm (200 A) Cost to utility Loss of life to 5 xfrms: - Each $100K Total: $500K

10. Moderate Storm (200 A) Cost to utility

11. Large Storm (400 A) Cost to utility Loss of a GSU: - Profit $50M - Depreciation $25M - Idle workers $4M - Transformer $1M Total: $80M

13. Very Large Storm (800 A) Cost to utility City without power: - Sales less fuel $794M - Idle workers $60M - Transformers $20M Total: $874M

14. What does it cost society when a very large solar storm hits?

15. “GNP” for a City US GNP $44,000 annual per capita - $170 per working day - Assume 80% lost: $136 - City of 1M people Total: $136M/day, $680M/week

16. Very Large Storm (800 A) Cost to society City without power: - Reduced GNP $8.8B Wide area outage: - Reduced GNP $13.6B Total: $22.4B

20. Dorothea Lange

21. Possible utility costs of moderate, large and very large GIC events

22. Possible societal costs of moderate, large and very large GIC events